Multifamily
11528 Adco Ave
11528 Adco Ave, Downey, CA 90241
Listing Price: $1,300,000
Investment Overview
11528 Adco Avenue is an eight-unit multifamily property on a 7,405 square foot corner lot at Adco Avenue and Neo Street in Downey. Built in 1957 as a two-story walk-up, the property contains six studios, one 1-bed/1-bath, and one 2-bed/1-bath across 4,052 rentable square feet, with eight on-site parking spaces for a full 1:1 ratio. The property operates as regulated affordable housing under a HOME Program covenant recorded in 2004 and running through approximately July 2059. Rents are set by HUD Fair Market Rent and AMI formulas, Section 8 vouchers are accepted by covenant, and tenant incomes are re-certified annually by the City.
11528 Adco Ave
Investment Highlights
- Affordability Already Recorded; Restricted through 2059. No re-entitlement, no community process.
- • Section 8 Income by Covenant; Voucher acceptance is a recorded obligation; rents benchmarked to HUD FMR.
- 33 Years of Remaining Term Recorded 2004 on a 55-year schedule; nondiscrimination covenants perpetual.
Exclusively Listed By
Listing Price: $1,300,000
Investment Highlights
- Affordability Already Recorded; Restricted through 2059. No re-entitlement, no community process.
- • Section 8 Income by Covenant; Voucher acceptance is a recorded obligation; rents benchmarked to HUD FMR.
- 33 Years of Remaining Term Recorded 2004 on a 55-year schedule; nondiscrimination covenants perpetual.
Investment Overview
11528 Adco Avenue is an eight-unit multifamily property on a 7,405 square foot corner lot at Adco Avenue and Neo Street in Downey. Built in 1957 as a two-story walk-up, the property contains six studios, one 1-bed/1-bath, and one 2-bed/1-bath across 4,052 rentable square feet, with eight on-site parking spaces for a full 1:1 ratio. The property operates as regulated affordable housing under a HOME Program covenant recorded in 2004 and running through approximately July 2059. Rents are set by HUD Fair Market Rent and AMI formulas, Section 8 vouchers are accepted by covenant, and tenant incomes are re-certified annually by the City.
Exclusively Listed By
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